Fortescue Ltd appeals $150 million native title ruling

Fortescue Ltd shares rose slightly on Wednesday, ending a four-day losing streak, despite the company's stock price being down approximately 25% since the start of 2026. The company is currently involved in a significant legal dispute regarding a landmark native title compensation ruling.

Fortescue has joined the Western Australian government in appealing parts of a Federal Court decision that ordered the miner to pay $150 million to the Yindjibarndi people for cultural and economic loss related to mining activities. The Yindjibarndi people have also appealed the award, seeking higher compensation.

In its recent fiscal year 26 results, Fortescue reported a 9% increase in revenue to US$17 billion and a 3% increase in underlying net profit after tax to US$3.5 billion. However, statutory profit fell 15% to US$2.86 billion, impacted by impairments and compensation claim expenses. Beyond iron ore, the company is expanding its exploration into copper, lithium, and rare earths across Australia and several international locations.